Al-Mamoun Fund Outperforms Benchmark and Market Index in Comparison to other Funds
• Hameed: The Al-Mamoun Fund is one of the top performing funds for June 2008 with 10.2% Year-to-Date return versus 3.93 for the index.
Global Investment House "Global" just announced that its Al-Mamoun Fund outperformed the benchmark of 3.93% in comparison to other funds listed in the Kuwait Stock Exchange (KSE), it recorded 10.2% on its year to date performance versus 3.93% for the index as of the end of June 2008.
Mr. Shahid Hameed, Head of GCC Asset Management at Global said “the strong performance of the fund is a result of the Fund Managers competence, and there capabilities to observe the upcoming news and it’s reflection on the stock market.
Other factors that contribute to the fund’s success are complete quantitative and qualitative valuation on the equities through performing extensive due diligence on the potential investments, in addition to meet the companies management to fully understand the core business of the companies.
One other important factor is the fund managers’ process in conducting a technical analysis to fully understand the companies historical performance of its stocks.
The Al-Mamoun Fund aims to seek capital growth on the medium term, providing investors with returns that outperform the market through investing in selected stocks of listed companies in the Kuwait Stock Exchange.
Hammeed pointed out that all stocks we invest in are of low volatility and high liquidity returns, ensuring investors high dividend yields and positive growth.
It is worth mentioning that the minimum investment of the fund is 1000 units and consists of two classes A & B. Class A unit holders waive the first 8% earned to class B holders. Class A holders receive 20% of any profits earned above the waived 8% and the remaining profits are distributed equally between the two classes thus the ownership becomes equal in all circumstances.
What makes “The Al-Mamoun Fund” a stable investment vehicle to investors is the professional management, excellent track record of the fund, promising expected returns, and the fund’s high liquidity, . The GCC team’s dedication to the fund made it outperform in comparison to the index on the Kuwaiti level.
It is worth mentioning that Global currently manages 38 investment funds with multiple investment strategies and objectives. A number of which have won international awards and recognitions. Global’s commitment to its investors remains strong as evident with its ongoing achievement in markets across the region.
Hameed concluded by saying “What makes us unique at Global, is the professionals who work hard as a team and have a huge interactive network with strong communication and support between its different elements. In addition, our work approach at Global gives the company's employees the space and freedom for creativity and improvement, and provides them with common channels to cooperate between each other effectively and efficiently.”
